Ready to get started? Call 800-342-3086 or schedule a virtual appointment.

When it comes to your vehicle, there are inevitable challenges every driver has to face. Perhaps it’s unforeseen mechanical issues, theft, or unexpected depreciation. These things are not only out of our control, but they can also be expensive to deal with. Luckily at Ascend Federal Credit Union, our Guaranteed Asset Protection (GAP) and Major Mechanical Protection (MMP) serve as comprehensive solutions to safeguard your vehicles and provide financial stability.

What is GAP?
Guaranteed Asset Protection (GAP)* is a type of coverage that protects you if your vehicle is totaled or stolen and you owe more on your loan than the vehicle’s current market value. According to Kelley Blue Book, new vehicles lose about 20% of their value within the first year.

Benefits of GAP Coverage:

• Financial Security: GAP covers the difference between your vehicle's actual cash value and the remaining balance on your auto loan, preventing out-of-pocket expenses in case of a total loss.

• Affordable Protection: Typically, GAP coverage is a small addition to your monthly loan payment, making it a cost-effective way to protect your investment.

Didn't add GAP when you got your Ascend auto loan? It may not be too late, members that have had an auto loan with Ascend for less than a year, may still be eligible to add this protection. Schedule a virtual appointment to see if you're eligible.

What is MMP?
Major Mechanical Protection (MMP)** is an extended warranty that covers the cost of repairs for significant mechanical issues that may occur after the manufacturer’s warranty expires. This protection ensures that your vehicle remains in excellent working condition without the financial burden of unexpected repair costs.

Benefits of MMP:

• Comprehensive Coverage: MMP covers a wide range of major mechanical components, including the engine, transmission, and drivetrain, protecting you from expensive repair bills.

• Budget Protection: Unexpected repairs can strain your budget. With MMP, you can avoid large out-of-pocket expenses, as the protection plan covers most repair costs beyond the deductible.

If you have an existing Ascend auto loan, it’s not too late to add this benefit. Schedule a virtual appointment or call 800-342-3086 to speak with a loan specialist about this coverage today.

How to Get Started
Before finalizing your Ascend auto loan, consider incorporating GAP and MMP coverage. These protections offer invaluable security, ensuring that you're prepared for the unexpected. By taking this step, you're investing in your vehicle and your peace of mind. To get started, Schedule a virtual appointment or call 800-342-3086 to speak with a loan specialist about this coverage today.

Federally insured by the NCUA.

*Your purchase of GAP is optional. Whether or not you purchase GAP will not affect your application for credit or the terms of any existing credit agreement you have with the financial institution. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under GAP. You should carefully read the contract for a full explanation of terms.

**Your purchase of a Major Mechanical Protection contract is optional. Plans are available for most new and used domestic and imported vehicles. Speak to your service representative for vehicle eligibility criteria and more details. Major Mechanical Protection is considered insurance coverage in some states.